Market Overview
Dollar Stays Weak as Focus Turns to Trade, Swiss Franc Firm
Dollar remains the worst performing one today as focuses turned from geopolitical tensions to trade. Euro is following as the second weakest as earlier rally reverses. On the other hand, buying in New Zealand Dollar picks up, followed by Swiss Franc. Sterling is also firm as the third strongest...
Dollar Broadly Lower as Geopolitics Dominates Headlines
Dollar trades generally lower as markets started another holiday shortened week quietly. With an empty calendar in Asia, focuses were mainly on geo-political news, which weren't very much market moving. For now, commodity currencies are the next weakest following the greenback. Yen and Swiss Franc are the mildly stronger...
Dollar Selloff Accelerates, Sterling Staging a Comeback
Dollar's selloff continues today and is accelerating. Solid risk appetite isn't a friend of the greenback this time, nor the Yen which is the second weakest. Sterling is staging a strong rebound as it seems that recent pull back has completed. Commodity currencies are indeed mixed despite persistent strength...
Aussie and Kiwi Strong as Stocks Extended Record Runs
Commodity currencies are extending this week's rallies on strong risk appetite, with US stocks continuing record runs. Solid gains are also seen in oil price and gold. New Zealand and Australian Dollars are set to end as the strongest ones for the week. On the other hand, Yen and...
Sterling Recovers in Quiet Trading, Oil and Gold Strengthen
Trading in the forex markets is generally quiet in Asian session. Sterling's broad based recovery suggests that last week's steep pull back could have completed. Yen crosses are also mildly firmer on optimism over US-China trade deal. These two developments would be the focuses for the rest of the...
Sterling Suffers Renewed Selling, Canadian Lower on GDP
Sterling is trading as the weakest one for today as it suffers renewed selling ahead of holidays. Canadian Dollar is currently the second weakest, weighed down by unexpected contraction in October GDP. Meanwhile New Zealand and Australian Dollars are the strongest ones, lifted by China's move to lower import...
Markets in Holiday Mood, USD/CAD to Decide Next Direction
Australian and New Zealand Dollar strengthen mildly in Asia today. But markets remain quiet overall, very much in holiday mood. Dollar and Canada are the weaker ones. US President Donald Trump's tweet late Friday indicated that US-China trade deal is still on the right track. China also announced to...
Canadian Dollar Tumbles after Poor Retail Sales, Sterling Pares Losses
Canadian Dollar drops sharply in early US session after much weaker than expected retail sales data. Euro and Swiss Franc are also under some selling pressure. On the other hand, Sterling is paring some losses ahead of weekly close while Australian Dollar is generally firm. Over the week, Swiss...
Yen Trying to Rally as 10-Yr JGB Yield Turns Positive
The forex markets are relatively quiet today, with little reactions to the record run in US stock markets overnight. Yen is indeed to trying to rally risk appetite markets, drawing support from 10-year JGB yield which turns positive. Swiss Franc is generally firm as this week's rally is maintaining...
Yen Higher after Poor US Data, Sterling Tumbles after BoE
Yen is trading broadly higher today as buying rushes in after weaker than expected US economic data. Nevertheless US stocks open mildly higher while 10-year yield is also trading up. Australian Dollar is currently the second strongest for today, still feeling the support from employment data. On the other...
Aussie Rebounds on Strong Job Growth, Sterling Awaits BoE
Australian Dollar recovers broadly today on stronger than expected job data. Though, upside is limited so far as unemployment rate remains a long way from RBA's rate of full employment. New Zealand Dollar is also among the strongest following better than expected GDP growth. Sterling is mixed as focus...
Canadian Dollar Supported by CPI and Oil Price, European Majors Weak
Canadian Dollar is trading as the strongest one for today, as helped by resilience in oil price and solid consumer inflation data. Dollar is currently following closely as the second strongest. On the other hand, European majors are the weakest ones so far, including Swiss Franc. Though, while Sterling...
Dollar and Yen Mildly Higher, Sterling Weak ahead of CPI
Dollar and Yen trade mildly higher in Asian session as markets turned into mild risk avers mode. Sterling remains the weakest one on concern of another Brexit cliff-edge at the end of transition period. The Pound will face another test from UK inflation data today, before heading to BoE...
Euro and Swiss Lifted by Pull Back in Sterling, Dollar Mixed
Sterling's pull back extends deeper today on renewed Brexit concern. Setting a hard deadline of December 2020 for trade negotiations UK and EU could create another Brexit cliff-edge. Meanwhile, Australian and New Zealand Dollars follow the Pound as next weakest, partly weighed down by risk aversion. On the other...
Sterling Extends Retreat on Johnson’s New Brexit Move, Aussie Soft on RBA
Trading in the forex markets continue to be relative quiet today. Sterling is mildly softer as consolidations continues. It's weighed down slightly by Boris Johnson's move to block transition period extension. Australian Dollar is the second weakest after RBA minutes affirm the chance of more easing. On the other...
Investors Shrug Poor Eurozone and UK Data, Risk Appetite Continues
Commodity currencies are general higher today, with the help from risk appetite in European markets, and US futures. Poor Eurozone and UK data are largely shrugged off by investors. Canadian Dollar is so far the strongest, additionally supported by mild strength in oil prices. On the other hand, Yen...
Risk Appetite Takes a Back Seat, Sterling to Face More Event Risks Ahead
Risk appetite is taking a back seat for now as investors are not too satisfied with the tiny tariff rollback in the US-China phase one trade deal. Better than expected economic data from China also provide little inspiration. Australian Dollar trades mildly lower in relatively quiet markets in Asia....
Dissatisfied With Tiny US-China Tariff Rollbacks, Risk Appetite Might Struggle to Push Forward
The markets were rocked by three key events last week, UK Election, US-China trade deal and FOMC rate decision. Sterling ended as the strongest one last week as boosted by the Conservative's landslide victory in UK election, removing a large of of Brexit uncertainty. Canadian Dollar followed crude oil...
US-China Tariffs Rollback in Question, Sterling Firm on Brexit Certainty
Sterling remains undoubtedly the strongest one for today, and the week, cheering Conservative's landslide victory in UK elections. Boris Johnson pledged that "we will get Brexit done on time by the 31st of January, no ifs, no buts, no maybes." That's what markets are firmly believing in now. Meanwhile,...
Markets in Ecstasy on UK Election and US-China Trade Deal
Sterling strengthens broadly today as an important hurdle for Brexit is cleared with Conservative's landslide victory in the UK election. Yen and Swiss Franc are broadly pressured on return of risk appetite, helped also by completion of US-China trade deal phase one. Over the week, the Pound is the...